DAS is not insolvency, it is the only statutory debt management plan in the UK. It gives someone in debt much-needed breathing space and allows them to repay their debts in full through a debt payment programme over an extended period of time.

If you have spoken to a DAS-approved money adviser, and they say the scheme is right for you, when your debt payment programme is approved all interest, fees and charges are frozen and you are given protection from the threat of any legal action from your creditors over your debt.

As well as individuals, sole traders, partnerships, certain limited partnerships, trusts,  unincorporated businesses, certain categories of charities and certain corporate bodies are all eligible for DAS. However, if you believe you fall into the category of a business rather than an individual for DAS you have to seek advice from a qualified insolvency practitioner.